Taiwan Stock Exchange Could Extend Wednesday’s Losses

(RTTNews) – Taiwan’s stock market has alternated between positive and negative results over the past four trading days since the end of the four-day losing streak in which it had fallen nearly 850 points, or 3.6 percent. The Taiwan Stock Exchange is now just below the 22,690 point plateau and could fall again on Thursday.

The global forecast for Asian markets is gloomy, with a slight decline likely in oil and technology stocks. European markets were slightly lower and US stock markets were mixed and stable and Asian markets were also expected to see little movement.

The TSE ended slightly lower on Wednesday following losses in financial stocks, technology stocks and plastics companies.

For the day, the index fell 160.44 points or 0.70 percent to end at 22,688.36 after trading between 22,622.47 and 22,977.56.

Among assets, Cathay Financial gained 0.51 percent, while CTBC Financial fell 0.16 percent, First Financial skidded 1.25 percent, Fubon Financial and Formosa Plastics both fell 0, 98 percent, E Sun Financial fell 0.18 percent, Taiwan Semiconductor Manufacturing Company fell 1.44 percent, United Microelectronics. Corporation lost 0.66 percent, Hon Hai Precision climbed 1.23 percent, Largan Precision fell 1.89 percent, Catcher Technology fell 0.73 percent, MediaTek fell 0.78 percent. cent, Delta Electronics fell 0.39 percent, Novatek Microelectronics fell 0.93 percent, Nan Ya Plastics fell 1.33 percent, Asia Cement lost 0.57 percent and Mega Financial was unchanged.

Wall Street’s advance offers little clarity as the major averages spent most of Wednesday’s session in negative territory before a late surge saw them finish mixed and with little change.

The Dow gained 139.53 points or 0.32 percent to end at 43,408.47, while the NASDAQ slipped 21.33 points or 0.11 percent to close at 18,966.14 and the S&P 500 gained 0.13 points or 0.00 percent to finish at 5,917.11.

The late rally was fueled by optimism ahead of tech darling Nvidia’s (NVDA) earnings release; The results, which came after the markets closed, were strong but fell short of high expectations.

The late-session volatility also came as trading activity was somewhat subdued due to the lack of major U.S. economic data.

Traders may also have been reluctant to take more significant action as they kept an eye on developments overseas amid escalating tensions between Ukraine and Russia.

Oil prices fell Wednesday on concerns over weak demand and data showing a rise in U.S. crude inventories last week. West Texas Intermediate crude oil futures for December slipped $0.52 or 0.75 percent to $68.87 a barrel.

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